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Existing Home Sales

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Definition of 'Existing Home Sales'

Existing Home Sales is a report that is provided monthly giving the total number of homes that closed during the month. Homes include condominiums and co-ops. More existing homes sell each month than new homes which makes this a better indicator of the trend in the housing market. These are also referred to as "resales."

Since the peak of the housing bubble in late 2006 and early 2007 the number of existing home sales dropped by around 70% in a two year time period.

Existing Home Sales figures are released monthly on or around the 25th of each month. Data released applies to the previous month. i.e. June's figures are release in July. These figures are released by the National Association of Realtors who revised previous months' figures when more data becomes available or errors are discovered.

More information and data can be found on the National Association of Realtors web site.

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